Bank of Calhoun Falls (Calhoun Falls, SC)

Episode Information

Episode UID
67029371378
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
6702937 routing
Routing Number
67-0293
Start Date
October 19, 1914
Location
Calhoun Falls, South Carolina (34.092, -82.596)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1cdafa14c38a5251

Response Measures

None

Description

Closure followed discovery of large cashier shortages and alleged forgeries by the former cashier.

Events (4)
1. October 19, 1914 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed after state bank examiner/audit revealed large shortages and the cashier left town; directors/board ordered closure.
Newspaper Excerpt
This institution closed its doors on October 19 and on October 20 S. J. Hester ... was named as receiver
Source
newspapers
2. October 20, 1914 Receivership
Newspaper Excerpt
S. J. Hester of Hester's Station, president of the bank, was named as receiver and appointed by Judge S. W. G. Shipp. P. E. Clinkscales ... appointed co-receiver later.
Source
newspapers
3. April 23, 1915 Other
Newspaper Excerpt
W. J. Tucker, former cashier of the Bank of Calhoun Falls, has been arrested on a warrant charging forgery ... shortage was approximately $17,000.
Source
newspapers
4. January 5, 1916 Other
Newspaper Excerpt
By authority of a Decree of sale ... we will offer for sale ... a brick bank building ... S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls.
Source
newspapers

Newspaper Articles (15)
1. October 28, 1914 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, October 28, 1914

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Calhoun Falls. Calhoun Falls, S. C., Oct. 24, 1914. D. H. Hill, of Abbeville, was a business visitor to our city last week. Mr. and Mrs. Eugene returned to their home last Sunday, after spending a week with Mrs. Cowan. Hon. D. H. Magill, of Greenwood, spent Sunday and Monday in the city, the guest of his sister, Mrs. N. J. Tucker. Mrs. Rogers, who has been visiting her sister Mrs. Cox, returned to her home in Anderson this week, Misses Lillian Burris and Vera Martin attended the singing convention in Georgia last Sunday. Mr. J. Will Tucker went to Anderson last Sunday on business. Mr. and Mrs. Ben Cowan returned to t heir home in Hamlet, N. C., last Saturday. Mrs. Hardy and Miss Dickerson returned to their home in Atlanta last Wednesday. Miss Florence Black went to Elberton Tuesday. Mrs. R. S, B. Martin and little Miss Helen Martin were in Abbeville this week. Ollie Tucker went to Elberton last Tuesday. Died.-Mrs. J. L. Hancock died. at her home last Wednesday morning at three o'clock, after a lingering illness of over a year. She leaves a husband and several children. Her body was carried to Greenwood for burial. The family has our sympathy Mr. William N. Graydon, Jr., was a business visitor to our city last Monday. In the Magistrate's Court there was tried before Dr. Hicks, Luo Martin, an old negro, for disposing of property under mortgage. After testimony was in for both sides, Dr. Hicks deelared the negro guilty and put a fine of $10 or thirty days at hard labor on the roads. His case was appealed. William Graydon for defendant and D. H. Magill for the State. Mrs. J. W. Burriss and daughter went down to Augusta last Tuesday to attend the State Fair. Born.-October 16, to Mr. and Mrs. Charley Manning, a daughter. The Bank of Calhoun Falls has closed doors by order of the board of directors. It is stated that depositors will be paid in full. Mrs. J. V. Tate is visiting friends and relatives in Atlanta this week. Miss Susie Goldenberg has issued invitations to a Hallowe'en party, to be given at the home of Mrs. H. Weinraub, Friday evening, Oct. 30. Mrs. Andrew Scott, of Georgia, spent last Friday and Saturday with Mrs. Poore Miss Carey Poore went to Abbeville last Saturday. At a special meeting of the Depositors of the Bank of Calhoun Falls, Saturday, S. J. Hester was appointed receiver to look after the affairs of the bank and to pay off the depositors. Dr. Tate was. elected Chairman and. Wilton Burford Secretary. It was stated that at least one-half of the, amount of the deposits would be paid in about forty days. Mr. and Mrs. W. P. Harrison went to Greenwood last Wednesday to attend Mrs. Hanconck's funeral. Rev. S. M. Jones went to Greenwood last Wednesday to officiate at Mrs. Hancock's 7 O. N. T. funeral.

2. November 20, 1914 The Anderson Daily Intelligencer Anderson, SC
Article from The Anderson Daily Intelligencer, November 20, 1914

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Receiver P. E. Clinkscales of Anderson Appointed Co-Receiver With S. J. Hester for Bank. P. E. Clinkscales, cashier of the Bank of Anderson, has been appointed by Judge Thomas S. Sease, presiding over court at Laurens, as one of the co-receivers for the Bank of Calhoun Falls. This institution closed its docrs on October 19 and on October 20 S. J. Hester of Hester's Station, president of the bank, was named as receiver and appointed by Judge S. W. G. Shipp. However, some of those interested in the matter desired that Mr. Clinkscales assist and he was therefore appointed. It is understood that the assets of the institution exceed the liabilities by about $3,000 and the directors have agreed that the depositors shall be paid every cent they had in the bank when business was suspended.

3. April 24, 1915 The Anderson Daily Intelligencer Anderson, SC
Article from The Anderson Daily Intelligencer, April 24, 1915

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CHARGE OF FORGERY AGAINST EX-CASHIER W. J. Tucker is Placed in Abbeville County Jail on Warrant. Arrested on a warrant charging forgery, W. J. Tucker, formerly cashier of the Bank of Calhoun Falls, has been arrested and loNged in the county jail at Abbeville. The allegation set out in the warrant is that he forged the name of J. C. McCord to a note for $650 which was found in the bank of Calhoun Falls. Mr. McCord, denies any knowledge of the note. It will be recalled that the doors of the Calhoun Falls bank were closed by a state bank examner several months ago, that S. J. Hester, presiden of the institution was named as recever, and that Mr. P. E. Clinkscales of Anderson was later named as co-receiver. It will be recalled that Mr. Tucker, left for parts unknown shortly before the doors of the bank were closed, and that he left a deed, drawn by attorneys in Abbeville, giv-, ing title. to considerable property in the town of Calhoun Falls to the bank to cover his shortage, which he nrst estimated at $8,000. Later he raised this mount by $1,000, and later developments showed that his shortage was approximately $17,000. In arranging the matter to the satisfaction of the state bank examiner four directors of the bank-S. J. Hester, C. H. Taylor, A. A. Grant and H. H. Hester-guarantee. to the examiner against all loss resulting from mismanagement or misconduct on the part of Tucker. These four gentlemen, it is understood, made their guarantee believing that Tucker had made a clean breast of his conduct, and that the $17,000 cover his entire shortage. The alleged forgery notes were not taken into account, the four directors believing them to be genuine and all right. It is understood that several questionable notes are held in the bank at Calhoun Falls; that the McCord note is only the first where forgery is suspected and charged. It is understood, further, that other warrants will be sworn out against Tucker.

4. April 28, 1915 Keowee Courier Walhalla, Pickens, SC
Article from Keowee Courier, April 28, 1915

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CHARGE OF FORGERY IS MADE. Cashier of Calhoun Falls Bank Said to Be Short $17,000. Anderson, April 23-W.J. Tucker, former cashier of the Bank of Calhoun Falls, has been arrested on a warrant charging forgery and has been lodged in the county jail at Abbeville. The specific charge, as set forth in the warrant, is that he forged the name of J. A. McCord on a note found in the bank at Calhoun Falls. The amount of the note is $650. It is understood that Mr. McCord denies any knowledge of the note. It will be recalled that the doors of the Calhoun Falls bank were closed by the State Bank Examiner several months ago; that S. J. Hester, president of the bank, was named as receiver, and that P. E. Clinkscales, of Anderson, was later named as a receiver. Mr. Tucker left for parts unknown shortly before the doors of the bank were closed, and he left a deed. drawn by attorneys in Abbeville, giving title to considerable property in the town of Calhoun Falls to the bank to cover his shortage, which he first estimated at $8.000. Later he raised this amount by $1,000, and still later developments showed that his shortage was approximately $17,000.

5. April 28, 1915 The Laurens Advertiser Laurens, SC
Article from The Laurens Advertiser, April 28, 1915

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IS CHARGED WITH FORGERY. Former Cashier of Bank of Calhoun Falls. Anderson, April 23.-W. J. Tucker, former cashier of the Bank of Calhoun Falls, has been arrested on a warrant charging forgery and has been lodged in the county jail at Abbeville. The specific charge, as set out in the warrant, is that he forged the name of J. A. McCord on a note found in the bank at Calhoun Falls. The amount of the note is $650. It is understood that Mr. McCord denies any knowledge of the note. It will be recalled that the doors of the Calhoun Falls bank were closed by a state bank examiner ceveral months ago, that S. J. Hester, presient of the institution was named as receiver, and that Mr. P. E. Clinkscales of Anderson was later named as co-receiver. It will be recalled that Mr. Tucker left for parts unknown shortly before the doors of the bank were closed, and that he left a deed, drawn by attorneys in Abbeville, giving title to considerable property in the town of Calhoun Falls to the bank to cover his shortage, which he first estimated at $8,000. Later he raised this amount by $1,000, and later developments showed that his shortage was approximately $17,000. In arranging the matter to the satisfaction of the state bank examiner four directors of the bank-S. J. Hester, C. H. Taylor, A. A. Grant and H. H. Hester-guaranteed to the examiner against all loss resulting from mismanagement or misconduct on the part of Tucker. These four gentlemen, it is understood, made their guarantee believing that Tucker had made a clean breast of his conduct, and that the $17,000 cover his entire shortage. The alleged forgery notes were not taken into account, the four directors believing them to be genuine and all right. It is understood that several questionable notes are held in the bank at Calhoun Falls; that the McCord note is only the first where forgery is suspected and charged. It is understood, further, that other warrants will be sworn out against Tucker. Tucker is well known in this city as are the four directors who have made the guarantee to the state bank examiner. Mr. S. J. Hester, president of the defunct institution is well known and has many friends here.

6. May 12, 1915 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, May 12, 1915

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State of South Carolina, ABBEVILLE COUNTY. Court of Common Pleas. A. O. Grant, on behalf of himself and of the other creditors of the Bank of Calhoun Falls, Plaintiff, against Bank of Calhoun Falls, S. W. Johnson, Thomas H. Russell, N. B. Sullivan, C. S. Sullivan. J. R. West, S. J. Hester, D. H. Hill, Receiver ; Mrs. Massey K. Russell, William B. Kable, Gertrude B. Seeley, H. H. Hes ter, Charles H. Taylor, Louis J. Bristow, and Gilpin Wilson, Defendants. Summons for Relief. To the Defendants above named : You are hereby summoned and required to answer the Amended Complaint in this case, which was filed in the office of the Clerk of Court of Common Pleas for the County of Abbeville, at Abbeville, South Carolina, on May 11th, A. D. 1915, and to serve a copy of your answer on the subscriber at his office at Abbeville, South Carolina, within twenty days after the day of service hereof, exclusive of the day of such service; and if you fail to answer the complaint within the time aforesaid, the plaintiff in this case will apply to the Court for the relief demanded in the complaint. Wm. P. Greene, Plaintiff's Attorney. 3t May 11th, 1915.

7. May 19, 1915 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, May 19, 1915

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State of South Carolina ABBEVILLE COUNTY. Court of Common Pleas. A. O. Grant. on behalf of himself and of the other creditors of the Bank of Calhoun Falls, Plaintiff, against Bank of Calhoun Falls, S. W. Johnson Thomas H. Russell, N. B. SulDwarez C. S. Sullivan. J. R. West, Hester. D. H. Hill, Receiver: Minus Massey K. Russell. William E. In ble. Gertrude B. Seeley, H. H. Elen ter. Charles H. Taylor. Louis: y Bristow, and Gilpin Wilson Dr fendants. Summons for Relief: To the Defendants above named You are hereby summoned and IX:quired to answer the Amended Chessplaint in this case, which was filed? XI the office of the Clerk of Court of Chenmon Pleas for the County of Abbevide at Abbeville. South Carolina, on Nov 11th, A. D. 1915, and to serve a copy nt your answer on the subscriber at his fice at Abbeville, South Carolina, WITH in twenty days after the day of service NET hereof. exclusive of the day of such vice: and if you fail to answer the 11:21 plaint within the time aforesaid, plaintiff in this case will apply co, No Court for the relief demanded in an complaint. Wm. P. Greeme Plaintiff's Attorney 3th May 11th, 1915.

8. June 2, 1915 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, June 2, 1915

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State of South Carolina, ABBEVILLE COUNTY. Court of Common Pleas. A. O. Grant, on behalf of himself and of the other creditors of the Bank of Calhoun Falls, Plaintiff, against Bank of Calhoun Falls, S. W. Johnson, Thomas H. Russell, N. B. Sullivan, C. S. Sullivan, J. R. West, S. J. Hester, D. H. Hill, Receiver; Mrs. Massey K. Russell, William B. Kable, Gertrude B. Seeley, H. H. Hes ter, Charles H. Taylor. Louis J. Bristow, and Gilpin Wilson, De fendants. Summons for Relief. To the Defendants above named : You are hereby summoned and required to answer the Amended Complaint in this case, which was filed in the office of the Clerk of Court of Common Pleas for the County of Abbeville, at Abbeville, South Carolina, on May 11th, A. D. 1915, and to serve a copy of your answer on the subscriber at his office at Abbeville, South Carolina, within twenty days after the day of service hereof, exclusive of the day of such service; and if you fail to answer the complaint within the time aforesaid, the plaintiff in this case will apply to the Court for the relief demanded in the complaint. Wm. P. Greene, Plaintiff's Attorney. St May 11th, 1915.

9. July 28, 1915 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, July 28, 1915

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# THE BANK EXAMINER. State Bank Examiner Mauldin has made a confession. In an article carried in the Sunday News, replying to some statement previously made in that paper to the effect that a bank in the lower part of the State was short of necessary funds, and that the bank examiner in a récent examination had failed to discover this fact, Mr. Mauldin indicates that some irregularities were discovered at the examination and that these were called to the attention of the President by letter and then adds-"The fact is, as I am informed, it was the report of this examination and the letters pursuant thereto which brought about the employment of auditors for making a MORE COMPLETE AUDIT of all the books and accounts of the bank THAN WAS POSSIBLE FOR THE BANK EXAMINER TO MAKE WITHIN THE LIMITED TIME AVAILABLE FOR THAT PURPOSE. In the above quotation, we have italicized certain words to call attention thereto. In the first place, we are informed that it costs the banks as much now to have their books examined by the bank examiner as it did, before this office was created, to employ competent auditors once a year to audit the books. It is true that the bank examiner comes around three or four times a year, while the auditor came but once a year; but with the latter we had a real examination of the books and accounts of the bank, while with the latter, to use his own words, such an examination is not possible in the limited time available for that purpose. Take the case of this bank. Did anybody know the condition of the bank after the examiner left? It seems that it was impossible to get at the real status of the bank without employing expert auditors, an entirely useless expense if the office of the bank examiner was doing thoroughly the work assigned it by law. And we do not mean to say that the bank examiner is neglectful of his duty. We only call attention to the facts, and prefer to believe that the trouble lies just where Mr. Mauldin says it does, and that it is not possible to make these examinations in a thorough manner with the time available. Only last year a small bank in this county was checked up by the bank examiner, and some small discrepancies found; it had been regularly checked before and no discrepancies found, and yet the cashier of this bank, at the last examination, was some eighteen thousand dollars short, and had been short for a period of four years in some amount, which amount constantly grew larger. We are willing to allow that this discrepancy could not be discovered on the face of the books; it never can. And an examination which looks to nothing but the face of the books is no examination. When the books of the large corporations are examined, and it appears that there are a thousand accounts on the books, a letter is mailed to each of the debtors stating the condition and amount of the account, and asking if it is correct. If three years before the Bank of Calhoun Falls failed such letters had been mailed to those persons who appeared to owe obligations to this bank, and to the depositors thereof, as would have been done by a good auditor, this shortage would have been discovered while the shortage was still small. But this examination was prevented by the fact that the legislature had provided that the banks should pay four fees a year to have their books inspected by a state officer, and they did not feel that it was necessary to have a further inspection, especially in view of the added expense. All of which goes to show that the office of state bank examiner may be a fat political job, but it does not furnish the people with the proper inspection and examination of the condition of these financial institutions. The truth is that the State should have nothing to do with examining banks. The state might properly

10. January 5, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 5, 1916

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STATE OF SOUTH CAROLINA, COUNTY OF ABBEVILLE, Court of Common Pleas. A. O. Grant, etc., Plaintiff, against The Bank of Calhoun Falls, Defendant. By authority of a Decree of sale of the Court of Common Pleas, for the County of Abbeville, we will offer for sale at Public Outcry, at Abbeville C. H., S. C., on Salesday in February, 1916, within the legal hours of sale the following described property, to wit: All that lot or parcel of land situate, lying and being in the Town of Calhoun Falls, on the North East Corner of Cox Avenue, fronting 25 feet on said avenue, and running back on Seneca Street one hundred and thirty feet and being known as Lot No. 50 in Block 2 of the town of Calhoun Falls, and having situate thereon a brick bank building. Also, one large bank safe and other fixtures and personal property, an inventory of which will be presented at the sale. TERMS OF SALE:-CASH. Purchaser to pay for the papers and stamps. S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls. Jan. 1st, 1916.

11. January 12, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 12, 1916

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STATE OF SOUTH CAROLINA, COUNTY OF ABBEVILLE, Court of Common Pleas. A. O. Grant, etc., Plaintiff, against The Bank of Calhoun Falls, Defendant. By authority of a Decree of sale of the Court of Common Pleas, for the County of Abbeville, we will offer for sale at Public Outcry, at Abbeville C. H., S. C., on Salesday in February, 1916, within the legal hours of sale the following described property, to wit: All that lot or parcel of land situate, lying and being in the Town of Calhoun Falls, on the North East Corner of Cox Avenue, fronting 25 feet on said avenue, and running back on Seneca Street one hundred and thirty feet and being known as Lot No. 50 in Block 2 of the town of Calhoun Falls, and having situate thereon a brick bank building. Also, one large bank safe and other fixtures and personal property, an inventory of which will be presented at the sale. TERMS OF SALE:-CASH. Purchaser to pay for the papers and stamps. S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls. Jan. 1st, 1916.

12. January 19, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 19, 1916

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STATE OF SOUTH CAROLINA, COUNTY OF ABBEVILLE, Court of Common Pleas. A. O. Grant, etc., Plaintiff, against The Bank of Calhoun Falls, Defendant. By authority of a Decree of sale of the Court of Common Pleas, for the County of Abbeville, we will offer for sale at Public Outcry, at Abbeville C. H., S. C., on Salesday in February, 1916, within the legal hours of sale the following described property, to wit: All that lot or parcel of land situate, lying and being in the Town of Calhoun Falls, on the North East Corner of Cox Avenue, fronting 25 feet on said avenue, and running back on Seneca Street one hundred and thirty feet and being known as Lot No. 50 in Block 2 of the town of Calhoun Falls, and having situate thereon a brick bank building. Also, one large bank safe and other fixtures and personal property, an inventory of which will be presented at the sale. TERMS OF SALE:-CASH. Purchaser to pay for the papers and stamps. S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls. Jan. 1st, 1916.

13. January 26, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, January 26, 1916

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STATE OF SOUTH CAROLINA, COUNTY OF ABBEVILLE, Court of Common Pleas. A. O. Grant, etc., Plaintiff, against The Bank of Calhoun Falls, Defendant. By authority of a Decree of sale of the Court of Common Pleas, for the County of Abbeville, we will offer for sale at Public Outcry, at Abbeville C. H., S. C., on Salesday in February, 1916, within the legal hours of sale the following described property, to wit: All that lot or parcel of land situate, lying and being in the Town of Calhoun Falls, on the North East Corner of Cox Avenue, fronting 25 feet on said avenue, and running back on Seneca Street one hundred and thirty feet and being known as Lot No. 50 in Block 2 of the town of Calhoun Falls, and having situate thereon a brick bank building. Also, one large bank- safe and other fixtures and personal property, an inventory of which will be presented at the sale. TERMS OF SALE:-CASH. Purchaser to pay for the papers and stamps. S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls. Jan. 1st, 1916.

14. February 2, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, February 2, 1916

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STATE OF SOUTH CAROLINA, COUNTY OF ABBEVILLE, Court of Common Pleas. A. O. Grant, etc., Plaintiff, against The Bank of Calhoun Falls, Defendant. By authority of a Decree of sale of the Court of Common Pleas, for the County of Abbeville, we will offer for sale at Public Outcry, at Abbeville C. H., S. C., on Salesday in February, 1916, within the legal hours of sale the following described property, to wit: All that lot or parcel of land situate, lying and being in the Town of Calhoun Falls, on the North East Corner of Cox Avenue, fronting 25 feet on said avenue, and running back on Seneca Street one hundred and thirty feet and being known as Lot No. 50 in Block 2 of the town of Calhoun Falls, and having situate thereon a brick bank building. Also, one large bank safe and other fixtures and personal property, an inventory of which will be presented at the sale. TERMS OF SALE:-CASH. Purchaser to pay for the papers and stamps. S. J. Hester and H. W. Lawson, Receivers for the Bank of Calhoun Falls. Jan. 1st, 1916.

15. March 15, 1916 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, March 15, 1916

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# MASTER'S SALE The State of South Carolina, County of Abbeville. Court of Common Pleas. S. J. Hester and H. W. Lawson, as Receivers of the Bank of Cal- houn Falls, against Edward Keiser, Marjorie Bullick and others.